Palladyne AI (NASDAQ:PDYN) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Palladyne AI (NASDAQ:PDYN) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Separately, Weiss Ratings raised shares of Palladyne AI from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Palladyne AI has a consensus rating of “Hold” and a consensus target price of $8.00.

Palladyne AI Stock Down 8.3%

Shares of NASDAQ PDYN opened at $7.82 on Friday. Palladyne AI has a 12-month low of $4.14 and a 12-month high of $13.00. The firm’s 50-day simple moving average is $6.69 and its 200 day simple moving average is $6.93. The company has a market cap of $328.75 million, a price-to-earnings ratio of 35.55 and a beta of 3.78.

Palladyne AI (NASDAQ:PDYN) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. Palladyne AI had a net margin of 191.37% and a return on equity of 8.82%. The firm had revenue of $1.66 million during the quarter, compared to analysts’ expectations of $0.81 million.

Institutional Trading of Palladyne AI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its stake in shares of Palladyne AI by 94.3% in the 2nd quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock valued at $44,000 after purchasing an additional 2,474 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of Palladyne AI by 18.6% during the second quarter. J.W. Cole Advisors Inc. now owns 17,200 shares of the company’s stock worth $149,000 after buying an additional 2,700 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Palladyne AI by 7.3% during the third quarter. SBI Securities Co. Ltd. now owns 42,027 shares of the company’s stock worth $361,000 after buying an additional 2,855 shares during the last quarter. Quarry LP acquired a new position in Palladyne AI in the third quarter valued at approximately $28,000. Finally, Bridgeway Capital Management LLC lifted its holdings in Palladyne AI by 9.7% in the second quarter. Bridgeway Capital Management LLC now owns 48,700 shares of the company’s stock valued at $422,000 after buying an additional 4,300 shares during the period. 26.02% of the stock is currently owned by institutional investors and hedge funds.

About Palladyne AI

Palladyne AI Corp., a software company, focuses on delivering software that enhances the utility and functionality of third-party stationary and mobile robotic systems in the United States. Its Artificial Intelligence (AI)/ Machine Learning (ML) software platform enables robots to observe, learn, reason, and act in structured and unstructured environments. The company's software platform enables robotic systems to perceive their environment and quickly adapt to changing circumstances by generalizing from their experience using dynamic real-time operations without extensive programming and with minimal robot training.